Valley investors help Los Abrigados emerge from bankruptcy. (Alan Mishkin, Art Matori and Joe Matori team up to recapitalize Los Abrigados resort)

Phoenix real estate investor Alan Mishkin, an owner of the Scottsdale Country Club and The Arizona Biltmore's two golf courses, has teamed with cousins Art Martori and Joe Martori and a handful of other investors to provide $4.6 million in cash to recapitalize the Los Abrigados resort in Sedona.

The cash infusion, which helped bring Los Abrigados out of Chapter 11 bankruptcy proceedings, will enable International Leisure Enterprises Inc., a majority owner of the resort, to resume sales of its time-share vacation packages and expand its current inventory of three time-share properties in Arizona, Florida and Colorado.

Approvals to resume sales of the time-share …